I don't point the finger at Coastal mgmt but that doesn't mean mgmt (and I refer to all listed companies) can't make mistakes when it comes to releasing materiel information that isn't public. They can do it in error, they can do it for friends, they can do it for their own greed or benevolence in wanting to assist others. There are a hundred reasons why it happens. Will it ever stop in the markets, nope, but that doesn't make it right.
As Kidl points out you can walk back thru history including recently and find example after example of this stuff , we shouldn't fool ourselves. If the analysts and others that are close to this company or any other are front running news then they should feel like someone is watching over their shoulder, it is illegal and immoral. Because it happens does not excuse it. More and more insiders cases are being brought against these folks. Ask Ian Telfer of Goldcorp how he feels about having his name dragged thru the mud over tipping...
Having been thru an OSC action in the past as a complainant and knowing the system you can rest assured these folks would love to have someone hand them the information that allows them to go after listed companies or individuals. It is their job and they are taking it a whole lot more serious now a days than has been the case. They get most of their information on illegal activities from shareholders who are observant , just like those of us that post here.
